Global Wellness Strategies Inc. announced a private placement of non brokered private placement of units for gross proceeds of up to CAD 3,000,000 on February 22, 2022. Each unit consists of one common share and one common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 3 years from the date of issue, one additional common share of the issuer at an exercise price of CAD 0.30 per common share. The warrants are subject to an acceleration provision in favour of the company in the event that the shares trade on a recognized exchange at more than CAD 0.45 for a 14-day period, which can include days where no shares trade. No finder's fees were paid in connection with the placement.

On the same date, the company announced that it has issued 2,977,779 units at a price of CAD 0.18 per unit for gross proceeds of CAD 588,500 in its first tranche.